#TrumpTariffs

Trump's tariff policies, according to Jinshi Data, which impose tariffs on countries that tax U.S. exports, are likely to increase global volatility in the short term due to trade reprisals, inflation, and stock market declines (e.g., Dow -1,500 points in April 2025). U.S. markets could benefit in the medium term if they promote local production or achieve trade agreements. Cryptocurrencies will face downward pressure due to correlation with risk assets and a strong dollar, but could rebound if inflation persists or the Fed cuts rates. Risk assets, such as technology stocks and emerging market equities, will suffer from rising costs and disruptions. **Recommendations**: defensive stance on cryptos, favor protected sectors (steel, energy), diversify with gold and bonds.